CannLabs Announces Entrance Into the Connecticut Market
18 Junio 2014 - 7:15AM
Marketwired
CannLabs Announces Entrance Into the Connecticut Market
Signs Long-Term Testing and Analytics Agreement With 2 Major
License Holders
DENVER, CO--(Marketwired - Jun 18, 2014) - CannLabs, Inc.
(OTCQB: SDSPD) announced today its entrance into the Connecticut
market. The Company has signed exclusive three-year testing
and analytics agreements with two of the four businesses licensed
to grow medical marijuana and produce related products in the
state.
On April 3, 2014 Connecticut announced the first six dispensary
facilities that will be authorized by the state with the
expectation that medical marijuana products would be available
during the summer. Connecticut has reserved a total of ten (10)
business licenses of which four (4) licenses have been awarded to
grow medical marijuana and produce related products. The state is
mandating all medical marijuana products be tested for potency,
microbials, pesticides and other contaminants. Dispensaries can
only provide medical marijuana products from licensed growers.
CannLabs will commence testing once the first products become
available from the growers, expected in August 2014. The new lab
will use the same high standard testing methodology and equipment
used in Colorado. This laboratory will serve as a foundation for
consulting, business intelligence and other solutions that
customers of CannLabs need to ensure safe, compliant and consistent
product is delivered to consumers.
"We are excited to solidify these long-term agreements and our
entrance into the Connecticut market," stated Genifer Murray, Chief
Executive Office of Cannlabs. "The growers will use CannLabs for
all mandated testing of their medical marijuana products. We view
this as a meaningful near and long-term opportunity and will grow
with our customers as they scale their business to meet patient's
needs across the state."
ABOUT CANNLABS
CannLabs, Inc., is a solutions provider with intellectual
property, proprietary cloud-based analytics and scientific methods
to serve the cannabis industry. Through Carbon Bond Holdings Inc.,
CannLabs provides laboratories with the necessary business
intelligence technology and other solutions required to serve the
cannabis industry, and these include the first state-licensed
laboratory in Denver, Colorado.
CannLabs enables growers, dispensaries and edible makers to
implement best practices while furthering product advancements. In
addition, the CannLabs website allows consumers to easily locate
certified tested products to meet their specific needs.
CannLabs has been at the forefront of educating the public, in
addition to state and local governments as more states legalize
marijuana for various uses. The Company provides client education
around safe cultivation, identifying contamination problems,
consulting on legal cases and the reformulation of cannabis
products, throughout the U.S. and Canada.
The Company plans to license their solutions to new labs and
other cannabis companies in states and provinces as legislation and
testing mandates for legalization are approved. This will allow the
Company to further scale its data analytics and consulting business
across a broader geographic area. In addition, the CannLabs team
will focus on research and development which will further drive
value for their customers and provide incremental revenue
opportunity.
For more information visit www.cannlabs.com.
Safe Harbor Statement All statements herein other than
statements of historical facts are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based upon our current expectations and speak only as of the date
hereof. Such statements are not guarantees of future performance
and are subject to known and unknown risks and uncertainties that
could cause our actual results to differ materially from those
expressed or implied in such forward-looking statements. Such
factors include, but are not limited to, our ability to raise
additional capital, our limited operating history and revenue, our
ability to attract and retain qualified personnel, our ability to
develop new services, market acceptance of our services,
legislative, regulatory and competitive developments in our
industry, general economic conditions, as well as other factors set
forth in our filings with the SEC.
CONTACT: Company Robert Farrell Vice President of Marketing
855-842-6936
robert.farrell@cannlabs.com www.cannlabs.com Investor Relations
Matt Hayden Chairman - MZ North America 949-259-4986
matt.hayden@mzgroup.us www.mzgroup.us
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